Three low income housing projects break ground in Milwaukee

Three low income housing projects broke ground recently in Milwaukee.
A groundbreaking ceremony was held Friday to celebrate the start of construction of the $11 million Villard Square project. A partnership of Madison-based Gorman & Company Inc. and the Northwest Side Community Development Corp. is building the four-story housing and library building at 3427 W. Villard Ave., in the central city of Milwaukee.
It will have 47 apartments and 12,871 square feet of ground floor space for a relocated Villard Avenue Library, currently located at 3310 W Villard Ave. The apartments are designed for families in which grandparents are the primary caregivers for their grandchildren.
The Wisconsin Housing and Economic Development Authority (WHEDA) is providing a $1.29 million loan and $7.6 million in low income housing tax credits for the project. The city of Milwaukee is paying $1.29 million to purchase the library space, and is using new market tax credits to reduce its capital outlay.
Other financing sources for the project including Boston Capital, Harris Bank, IFF and community development block grants from the city and the state.
On Tuesday, a groundbreaking ceremony was held for the Becher Terrace project at 1800 W. Becher St., Milwaukee. The project consists of 80 units of affordable housing for elderly residents. The developer, SunStarr Real Estate, received $12.4 million in low income housing tax credits and a $1.5 million tax credit exchange grant from WHEDA.
And today a groundbreaking ceremony was held for the Capuchin Apartments project at 2501 W. Fond du Lac Ave., Milwaukee. The project consists of 38 units of supportive housing for people that are homeless, have a mental illness or have a very low income. The developer, Heartland Housing Inc., received $6.8 million in low income housing tax credits and $1.9 million in tax credit assistance program housing from WHEDA for the project.

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